vpps are used to track your VIP status. They are based and are used only for this.

Fpp's are like a currency. You can use these to buy things from the VIP shop, for tourney buy ins, bonuses, etc. The reason its different from vpps is. Because the higher the level, say when you get to silver star, you earn 1.5fpp for every vpp. For gold, you earn 2fpp per vpp. It keeps going like this, so basically like i said.

vpp-track status (Strategypoints as well)
fpp's- you spend to get balla stuff